Loews Corporation has agreed to buy the Mandarin Oriental San Francisco Hotel ahead of a new phase of growth under its incoming chief executive officer.
The 158-room property, currently managed by Mandarin Oriental Hotel Group, will be the first in the city for Loews Hotels & Resorts. San Francisco was the last of the top-five gaps in the portfolio that the new CEO planned to fill, following the Washington, Boston, Chicago and Los Angeles markets.
The San Francisco hotel is on the top 11 floors of an office building on Sansome Street in the city’s financial district, according to a statement from the company that didn’t disclose terms.
“It’s this kind of property we’ve been chasing after,” Whetsell said of the Mandarin Oriental. “We wanted a luxury hotel, we wanted something that would represent Loews well.”